Coalition Govt to Keep Bulgaria Currency Board, Tax System

Bulgaria will keep its restrictive currency board system until it adopts the euro, according to the governance programme of GERB-lead coalition.

Keeping budget deficit and public debt low according to EU criteria and providing conservative and efficient management of state treasury and public debt are also part of the programme of the government coalition of centre-right GERB and right-wing Reformist Block backed by left-wing ABV and nationalist Patriotic Front.

The new government, which is expected to take office on Friday, also pledges to keep taxes unchanged and continue to maintain the level of re-distribution of budget resources by the state at up to 39% of GDP.